The global industrial lighting market is projected to reach a valuation of around US$ 17 Bn by 2031, expanding at a CAGR of close to 7% throughout the forecast period.
Rising global warming has forced governments and international organizations to come up with numerous regulations off late, including regulating the use of industrial lights. This has led to increased use of advanced energy-efficient lighting such as LEDs. LED luminaires can lead to around 50% energy cost savings as compared to HID lamps, and 30-40% as compared to fluorescent lights, due to which, industries are switching over to LED lighting in a big way. Increase in LED lighting demand will defiantly provide a boost to the requirement of industrial lighting.
FACTS AT A GLANCE
Companies: Emerson Electric Co, Signify Holding, OSRAM GmbH, GE Current, Panasonic Corporation, Hubbell Incorporated, and ACUITY BRANDS LIGHTING.
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Coverage: All major geographies and key segments
Segments: By Type (LED Industrial Lighting, High-Intensity Discharge (HID) Industrial Lighting, Fluorescent Industrial Lighting); By Application (Industrial Linear Lighting, Industrial Spot Lighting, Industrial Flood Lighting/Area Lighting, Industrial High Bay Lighting); By Installation (New Installation, Replacement Installation, Retrofit Installation)
Geographies: North America, Latin America, Europe,Asia Pacific,Middle East & Africa
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Industrial lighting Market – Report Scope
Persistence Market Research recently published a report on the industrial lighting market. The report provides detailed valuation on key market dynamics, such as the drivers, trends, opportunities, and restraints, along with detailed information about the market structure. This market research report presents exclusive facts and figures about how the industrial lighting market will grow over the forecast period of 2021 to 2031.
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Key indicators of market background, such as value chain analysis and supply chain, compounded annual growth rate (CAGR), and year-on-year (Y-o-Y) growth of the market are explained in Persistence Market Research's study in a comprehensive manner. This information can help readers understand the quantitative development projections of the market over the forecast period.
The study is relevant for stakeholders in the market, as well as manufacturers, distributors, suppliers, and investors, as it can help them understand the applicable strategies to grow in the market. Stakeholders, investors, industry experts, researchers, and journalists, as well as business researchers in the industrial lighting market can leverage the information and statistics presented in this research report.
The report includes facts and figures related to the macro- as well as micro-economic factors that are impacting market growth. The study also offers actionable insights based on the future trends in the industrial lighting market. Furthermore, regional players and new entrants in the market can also use the information presented in this report to make business decisions and gain momentum in this space.
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